foi6061-response.pdf

The Freedom of Information request asked for a list of banks involved in Payment Protection Insurance (PPI) mis-selling, firms fined by the Financial Conduct Authority (FCA) and its predecessor organisation the Financial Services Authority (FSA), and firms that paid the most money in redress to consumers.

Key points:

• The FCA publishes details of firms where it has taken action for PPI selling failures or complaints handling failures on their website.
• A list of final notices is provided, which sets out the amount each firm was fined.
• However, the list of firms involved in PPI mis-selling cannot be disclosed because it has been received by the FCA for the purpose of carrying out its regulatory function under the Financial Services and Markets Act 2000 (FSMA) and is exempt from disclosure under section 44 of the Act.
• The amount each firm paid in redress to consumers cannot be disclosed as it too has been received by the FCA for the purpose of carrying out its regulatory function under FSMA and is exempt from disclosure under section 44 of the Act.